EU agri-food trade maintained good progress in November

Published Feb 28, 2024

Tridge summary

The EU's agri-food trade surplus saw a significant increase of 27% in November 2023, reaching €6.9 billion, compared to the same period in 2022. The total trade balance from January to November 2023 was €64.8 billion, €12 billion more than 2022. Agri-food exports hit €20 billion in November 2023, with processed products seeing the most growth. However, imports dropped by 16% to €13.1 billion. The UK, US, and China were the top destinations for EU agri-food exports, while imports primarily came from Brazil, the UK, and Ukraine.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

After reaching its highest level in the last three years in October 2023, the EU agri-food trade surplus continued to grow in November 2023 to reach €6.9 billion, 3% more than the previous month and +27% more than in November 2022. The accumulated trade balance from January to November 2023 reached 64.8 billion euros. This represents 12 billion euros more than in the same period in 2022, according to the latest monthly report on agri-food trade published by the European Commission. In November 2023, EU agri-food exports reached €20 billion. Accumulated exports since January thus stand at 210.8 billion euros, with the main increases in processed products, including cereal preparations and fruit and nut preparations. In terms of exported products, exports of cereal preparations and milling products increased by +7% compared to 2022 (+1.4 billion euros), followed by fruit and vegetable preparations (+14%, +1.3 billion euros ) and confectionery and chocolate products (+1.1 billion ...
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